Inventories, net

6 Months Ended

Jun. 30, 2015

Inventories are valued at the lower of cost or market. The cost of U.S. inventories is determined by the last-in, first-out (“LIFO”) method, while the operations outside the U.S. use the first-in, first-out (“FIFO”) or average-cost methods. Inventories consisted of the following:



	June 30,			December 31,
(in millions)	2015			2014
Raw material and supplies	$	325.5		$	319.5
Work in progress	87.7			89.0
Finished goods	130.9			115.5
FIFO inventories	544.1			524.0
LIFO reserve	(18.4		)	(18.3		)
Inventories, net	$	525.7		$	505.7